Cal-Maine Foods (NASDAQ:CALM) Announces Earnings Results, Misses Expectations By $0.84 EPS

Cal-Maine Foods (NASDAQ:CALM) posted its earnings results on Wednesday. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84), FiscalAI reports. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The firm had revenue of $552.58 million for the quarter, compared to the consensus estimate of $563.83 million. During the same period last year, the company posted $7.04 EPS.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $87.25 on Wednesday. Cal-Maine Foods has a 1 year low of $71.92 and a 1 year high of $126.40. The firm has a market cap of $4.13 billion, a PE ratio of 6.08 and a beta of 0.25. The company has a 50 day simple moving average of $79.93 and a two-hundred day simple moving average of $80.30.

Analysts Set New Price Targets

A number of research analysts have recently commented on CALM shares. Weiss Ratings restated a “hold (c)” rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. Wells Fargo & Company set a $100.00 price objective on Cal-Maine Foods in a research report on Monday, July 13th. Stephens dropped their price objective on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cal-Maine Foods presently has an average rating of “Hold” and an average target price of $94.29.

Hedge Funds Weigh In On Cal-Maine Foods

A number of institutional investors have recently made changes to their positions in the stock. Pinnacle Holdings LLC bought a new stake in shares of Cal-Maine Foods during the 4th quarter worth $30,000. IFP Advisors Inc increased its stake in Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. National Bank of Canada FI purchased a new stake in Cal-Maine Foods during the third quarter valued at about $42,000. Aster Capital Management DIFC Ltd purchased a new stake in Cal-Maine Foods during the fourth quarter valued at about $51,000. Finally, Quarry LP lifted its stake in Cal-Maine Foods by 146.6% during the third quarter. Quarry LP now owns 587 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.